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Capital One has launched the Capital One Savor rewards credit card now that their Premier Dining Rewards card is no longer available. Capital One has made several updates to this card since its initial offering. This new rewards card offering comes with an updated $500 sign-up bonus opportunity.
As the name subtly hints, this card is targeted to consumers that dine out often, where the earnings rate is the highest at 4% cash back (previously 3%). The updated 4% rate now also applies to purchases categorized as “entertainment”. The second highest earning category is for groceries, where you’ll earn 2% cash back.
What counts as dining?
Purchases at restaurants, cafes, bars, lounges, fast-food chains and bakeries.
What counts as entertainment?
Buying tickets to a movie, play, concert, sporting event, tourist attraction, theme park, aquarium, zoo, dance club, pool hall or bowling alley. Also, making purchases at record store and video rental locations. This excludes non-industry entertainment merchant codes like cable, digital streaming, and subscription services.
What counts as a grocery store?
A supermarket, meat locker, freezer, dairy product store and specialty market. Excludes superstores like Walmart and Target.
The $500 bonus is a big step up from the previous $100 promotion, but the trade-off now is that there’s an updated $95 annual fee (previously no annual fee). The good news is that the annual fee is waived the first year so you can give the card a full trial run. While there’s nothing groundbreaking with this card, it will come in handy for users with the intended needs.
If you travel often and dine out, you’ll be better off with other card choices that have higher earning potential for both categories of spending (the Barclaycard Arrival Plus® World Elite Mastercard® is a popular choice, but has an annual fee).
If you’re mostly staying put in your hometown and eat out often, then this card may be the right fit for you. Or, perhaps you have a large family and everyone only eats organic, racking up hefty grocery spending each month.
If you’re not spending heavy on Dining, Entertainment and Groceries, there are several No Annual Fee credit cards that can earn 1.5% on ALL purchases (e.g. Capital One QuickSilver Cash Rewards [1.5%], HSBC Cash Rewards Mastercard® credit card [1.5%]).
Savor Rewards Card $500 Bonus
Earn some free meals with the $500 bonus!
A $500 sign-up bonus is a surprisingly high value offer for such a card. If you’d like to compare it to other great sign-up bonuses, see our Credit Card Bonuses page.
To earn the $500 bonus with the Savor rewards card, spend $3,000 on purchases within the first 3 months of account opening. This high spending requirement is expected for such a big bonus offer.
Ways To Meet The Spending Requirement
If for whatever reason you find yourself unable to reach that $3,000 spending requirement in the first 3 months (maybe you’re applying for several card bonuses?), below are some good options:
| Meeting Credit Card Bonus Spending Requirements |
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Savor Rewards Card Benefits
The 4% cash back on dining/entertainment and 2% on groceries (it’s the standard 1% on all other purchases) are the obvious reasons for jumping on this card, and the cash back you earn has no maximum caps and no rotating categories to be concerned with. Your cash back will never expire, and there’s actually no minimum threshold you must reach before you can redeem your earnings.
While we think it’s best to carry a better Travel specific credit card when you’re abroad, it’s nice to know the Savor card actually won’t incur any foreign transaction fees out of the country. It’s typically 3% for such spending with cards that don’t offer this perk.
Aside from these main card benefits, this card also comes with World Elite Mastercard Benefits:
- Extended warranty protection at no charge on items that are purchased with your credit card.
- Complimentary concierge service to help with booking travel, dining reservations, locating hard-to-find items and more—24 hours a day.
- Identity Theft resolution services
- Travel upgrades and savings like complimentary room upgrades, early check-in and late check-out when available, access to a portfolio of Luxury Hotels & Resorts and more.
- Travel protection where you can be reimbursed up to $1,500 per trip for non-refundable travel expenses, if your trip is cancelled or cut short by things like sickness or injury.
- Price protection where you can get reimbursed the price difference on eligible items when you find the same item for a lower price within 60 days of purchasing it with your credit card.
What’s The Competition?
The Savor rewards card from Capital One is actually a good option for those with specific Dining and Grocery spending needs, but you’ll definitely want to take a look at some other options before making the final decision.
| Barclaycard Arrival Plus® World Elite Mastercard® |
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 The Barclaycard Arrival Plus® World Elite Mastercard® is now offering a 70,000 bonus miles offer. The 70k bonus miles will be worth $700 when you redeem towards travel. If you take into account the 5% miles back every time you redeem perk, the 70k miles would then have a $735 value.This card also earns unlimited miles at the rate of 2 miles per $1 spent on all purchases regardless of category, and doesn't have foreign transaction fees on international purchases either. Every time you redeem your miles, you'll get 5% of those miles back to use towards your next redemption. This effectively gives you a 2.1% rewards earning rate - beating out many competitors. Full Review |
| HSBC Cash Rewards Mastercard® credit card |
 The HSBC Cash Rewards Mastercard® credit card has a $150 cash rewards intro bonus after spending $2,500 in the first 3 months of account opening.This card earns unlimited 1.5% cash rewards on all purchases, has no annual fee, and no Foreign Transaction Fees. Another great incentive is the 10% Anniversary Bonus on all the cash rewards earned for the year; effectively making this card earn 1.65% in cash rewards. Full Review |
| Chase Freedom |
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| The Chase Freedom credit card is going to earn you a $150 bonus after you spend $500 on purchases in the first 3 months from account opening. You can also earn another $25 bonus when you add your first authorized user and make your first purchase within this same 3 month period. People like this card because it earns 5% cash back on up to $1,500 in combined purchases in bonus categories that change every quarter. The downside is you have to keep up with the quarterly categories, and activate the category each quarter before you can earn the 5%. You'll earn 1% cash back on all other purchases.There's also a 0% intro APR for 15 months from account opening on both Purchases and Balance Transfers. After the intro period, a variable APR will take over. The Balance transfer fee is 5% of the amount transferred with a minimum of $5. Many people have this as a supplemental card to use specifically on the 5% category spending, and use other other cards when it's more beneficial. The categories change each quarter, but historically they have included things like gas stations, grocery stores, and holiday shopping. There's no annual fee to be concerned with, so it fits well with such a strategy. Full Review |
| Capital One Quicksilver Rewards |
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| The Capital One Quicksilver Rewards card will earn a $150 bonus when you spend $500 on purchases within the first 3 months. The bonus offer is comparable to its top competitors, but this card earns a respectable 1.5% cash back on every purchase with no limit on how much you can earn. There are no spending categories to keep up with.There's a 0% introductory APR on both Purchases and Balance Transfers for the first 15 months with this card; variable APR after that. The Balance Transfer fee is 3% on the amounts transferred within the first 15 months. People like this card because of the cash back rate, the flexibility to redeem your cash back for any amount, and there's no annual fee. Full Review |
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